Central Bank of China
PRESS RELEASE Release Date: August 5, 2003




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FOREIGN EXCHANGE RESERVES AS OF

JULY 31, 2003

The Foreign Exchange Reserves of the Republic of China amounted to US$182.2 billion at the end of July 2003, showing an increase of US$ 5,522 million from the figure recorded at the end of last month and an increase of US$ 20,552 million compared to the end of last year.

The main factors for the increase in foreign exchange reserves in July 2003 are :

1.Inward remittance of USD2.4 billion from ADRs issued abroad by Chunghwa Telecom Co Ltd. and The Development Fund, Executive Yuan.

2.Substantial foreign capital inflows.

3.Return from investment of foreign exchange reserves.

The aforesaid item 1 and 2 are short-term in nature and subject to sudden reversal.

Note: The next dissemination will be made at 16:20 p.m. on September 5, 2003;

advance release calendar can be accessed on our website at: http://www.cbc.gov.tw/EngHome/ESDDS/calacal.asp